BOMBPROOF
YOUR HORSE
BUSINESS ™
_______________________
“Don’t Let An IRS Audit Take You
For A Ride” ™
_______________________
THE PROBLEM
The IRS aggressively targets many horse businesses for
audits. Their primary tactic is to not allow expense
deductions, claiming violations of the so called “Hobby
Loss Rules.” Since 2000, horse business owners have
lost over 80% of the “Hobby Loss” Tax Court cases.
THE SOLUTION
Planning is the solution to the problem! Horse
businesses that plan properly can comply with the
Hobby Loss Rules and deduct their expenses, even if
they’ve never made a cent in profit! Horse tax
planning is vital to your success!
do. We CANNOT help you deduct the cost of taking care of your pets. Tax
deductions are only available for legitimate businesses.
FULL SERVICE
We can help you structure your business and operations so that you comply
with the requirements of the Hobby Loss Rules. The best way to do this is at
your ranch; however we can work via questionnaires and telephone
consultations if you prefer.
If, after thoroughly reviewing your operations, we believe you are in
compliance with the Hobby Loss Rules, we’ll write you a “tax opinion
letter.” A tax opinion letter describes your operations and applies the law to
your circumstances. A tax opinion letter is important for two reasons:
- 1. It shows that you are carrying on your horse activities in a
business-like manner and that you have retained experts to help you
meet tax law requirements.
2. In the event you lose a Hobby Loss audit, IRS regulations say
you can avoid penalties if you have relied on professional help and have
substantial legal authority for your actions. The tax opinion letter
provides proof of both of these elements.
Call us today toll free at 866-4-TAX-HERO (866-482-9437).
For you do-it-yourselfers, we’ve published “Bombproof YOUR HORSE
BUSINESS!” a self-help guide to the Hobby Loss Rules. This guide contains:
- Through analysis of the Hobby Loss Rules and the cases related to it.
- Specific suggestions on steps you can take to ensure you comply.
- Actual text of the Hobby Loss Rules (IRC §183) and their regulations.
- IRS’ “Audit Technique Guides” (over 300 pages), to let you know what
the IRS is looking for. - Full text of nearly 100 court cases dealing with the Hobby Loss Rules,
including all 26 horse business cases decided since 2000 (over 1000
pages).
Go to the BOMBPROOF Your Horse Business Order Page by
Clicking Here.
AUDIT DEFENSE
If your horse business is already under audit, we can provide aggressive
defense services. This includes representation at IRS audits, IRS appeals, U.S.
Tax Court, and various other courts and appeals.
If you win a Hobby Loss audit or court case, you may be able to force the
IRS to reimburse you for some or all of your attorney fees and costs. The
rules related to such forced reimbursement require many things to be done
during the course of the case. We are aware of these required steps and work
hard to get our clients reimbursed whenever possible.
Call us today toll free at 866-4-TAX-HERO (866-482-9437).
TO THE TERMS OF USE, PRIVACY POLICY, AND THE COPYRIGHT & TRADEMARK NOTICE THAT IS INCORPORATED BY
REFERENCE HEREIN. If you do not agree to these policies, please do not use this site.
